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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trade Setup
#CADCHF
Total Profit: 830 pip
Closed trade(s): 318 pip Profit
Open trade(s): 512 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 0.7566 based on 'Two-day reversal candle(Shooting star)' at 2019.05.01 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 0.7555 touched at 2019.05.02 with 11 pip Profit.
TP2 @ 0.7460 touched at 2019.05.13 with 106 pip Profit.
TP3 @ 0.7365 touched at 2019.06.03 with 201 pip Profit.
11 + 106 + 201 = 318 pip

Open Profit:
Profit for one trade is 0.7566(open price) - 0.7438(current price) = 128 pip
4 trade(s) still open, therefore total profit for open trade(s) is 128 x 4 = 512 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 0.74600 is broken, we will close open trades.
  • Price may also reach 0.74600, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateJune 8, 2019 - 19:26
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.74600 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 0.74600 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.7365 on 06/03/2019, so more gains maximum to Major Resistance (0.7460) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 44.

Take Profits:

  1. 0.7555
  2. 0.7460
  3. 0.7365
  4. 0.7315
  5. 0.7175
  6. 0.7125
Click on the level to view price action history.